N.Y. Private Housing Finance Law § 653: New York city housing development corporation

§ 653. New York city housing development corporation. 1. There is

hereby created the "New York city housing development corporation". The

corporation shall be a corporate governmental agency, perpetual in

duration, and shall constitute a public benefit corporation. It shall

consist of seven members as follows: the commissioner of the department

of housing preservation and development, who shall serve as chairperson,

the commissioner of finance, the director of management and budget, two

public members to be appointed by the mayor and two public members to be

appointed by the governor. The public members first appointed by the

mayor or the governor, as may be the case, shall serve for terms ending

two and four years respectively from January first next succeeding the

date of their appointment. Their successors shall serve for terms of

four years each. Members shall continue in office until their successors

have been appointed and qualified. The mayor or the governor shall fill

any vacancy which may occur by reason of death, resignation or otherwise

in a manner consistent with the original appointment. A public member

may be removed by the mayor or the governor, whichever appointed such

member, for cause, but not without an opportunity to be heard in person

or by counsel, in such member's defense, upon not less than ten days'

notice.

2. (a) The members, officers and employees of the corporation shall be

subject to the conflicts of interest provisions of chapter sixty-eight

of the New York city charter and the rules promulgated thereunder by the

New York city conflicts of interest board. Such members, officers and

employees shall not be subject to the provisions of article eighteen of

the general municipal law or the provisions of sections seventy-three,

seventy-three-a and seventy-four of the public officers law.

(b) The members, officers and employees of the corporation shall be

subject to the provisions of section 12-110 of the administrative code

of the city of New York pertaining to the filing of annual disclosure

reports with the New York city conflicts of interest board, and for such

purpose the members shall be deemed to be compensated members of the

corporation.

(c) Notwithstanding any inconsistent provisions of this or any other

general, special or local law, no officer or employee of the state, or

of any civil division thereof, or of any public corporation, as defined

in the general construction law, shall be deemed to have forfeited or

shall forfeit such person's office or employment or any benefits

provided under the retirement and social security law or under any

public retirement system maintained by the state or by the civil

divisions thereof by reason of such person's acceptance of membership on

or by virtue of such person being an officer, employee or agent of the

corporation. A member shall not receive a salary or other compensation

for services rendered pursuant to this article but shall be entitled to

reimbursement for such member's actual and necessary expenses incurred

in the performance of such services. The members may engage in private

employment or in a profession or business, unless otherwise prohibited

from doing so by virtue of holding another public office, subject to the

provisions of chapter sixty-eight of the New York city charter and the

rules promulgated thereunder by the New York city conflicts of interest

board.

3. The powers of the corporation shall be vested in and exercised by

no less than four of the members thereof then in office. The corporation

may delegate to one or more of its members, officers, agents or

employees such powers and duties as it may deem proper.

4. The corporation and its corporate existence shall continue until

terminated by law; provided, however, that no such law shall take effect

so long as the corporation shall have notes, bonds, or other obligations

outstanding. Upon termination of the existence of the corporation all of

its rights and properties shall pass to and be vested in the city.